PPP Loan Data — Opportunity Fund Community Development, San Jose, CA
Opportunity Fund Community Development is a non-profit organization located at 111 West Saint John St Suite 800 in San Jose, California that received a Coronavirus-related PPP loan from the SBA of $2,556,948.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Beneficial State Bank
Opportunity Fund Community Development in San Jose, CA received a Paycheck Protection Loan of $2.56M through Beneficial State Bank, which was approved in April, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Opportunity Fund Community Development's 2019 payroll expenses are estimated to be at least $12.27M.
Based on their reported 124 jobs retained, this equals an estimated average yearly compensation of $98,979 per employee1
Reported PPP Proceed Usage:
On the PPP application, Opportunity Fund Community Development reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,556,948
Business Information - Opportunity Fund Community Development in San Jose, CA
111 West Saint John St Suite 800
San Jose, CA 95113
Miscellaneous Financial Investment Activities
NAICS code 523999
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near San Jose
In the San Jose area, 2 businesses in the "Miscellaneous Financial Investment Activities" industry received a PPP loan. These local businesses reported an average of 65 employees (compared to this company's 124) and received an average PPP loan of $1,339,724 (compared to this company's $2.56M).
Similar Nearby Businesses Who Received PPP Funding:
St Joseph Financial Services
San Jose, CA
Industry PPP Comparison Statistics
Nationwide, 12,855 businesses in the "Miscellaneous Financial Investment Activities" industry received a total of $583.39M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 3 employees, 98% lower than Opportunity Fund Community Development's reported 124 employees, and received an average PPP loan of $45,383, 98% lower than this company's loan of $2.56M.
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Footnotes & Information
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